Found 3 blog entries tagged as Prices.

NAR’s Forecast: Home Sales Headed for a 14% Increase

The latest forecast from the National Association of Realtors (NAR) predicts existing home sales in the U.S. will increase by about 14% in 2026, driven by improving economic fundamentals and a slight easing of mortgage rates. Home prices are expected to continue rising nationally around 4% next year, after an estimated 3% rise by the end of this year. Additional predictions:

  • 14% increase in existing home sales.

  • 5% increase in new home sales.

  • Mortgage rates to drop gradually to 6%.

Ralph’s Take

I’ll be putting together a full list of forecasts as we get closer to the end of the year, but here’s my early read:…

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Luxury Home Prices Jump 3x Faster Than Average

Luxury housing continued to outperform the broader market in October, with prices up 5.5% — nearly triple the growth of non-luxury homes, according to Redfin. Strong equity markets and cash-heavy buyers are keeping high-end demand resilient, even as typical buyers remain constrained by current mortgage rates. Additional findings:

  • Number of sales: Luxury up 2.9%. Non-luxury sales at 0.7%.

    • Both markets are still near decade-low October levels.

  • Inventory: Luxury up 6.4%. Non-luxury up 9.5%

    • Highest October levels in 5 years, but still below pre-pandemic norms.

  • Days on Market: Luxury up to 58…

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2025 Sneak Peek: Housing Sales to Rebound?

As 2024 comes to a finish, the year is set to close with around 4 million transactions — our lowest level since the 2008 financial crisis. For additional perspective, annual home sales over the past 20 years have averaged 5.15 million, peaking at 7 million in 2005. This year's decline was driven by higher mortgage rates, potential sellers holding off and limiting inventory, the Presidential Election, and affordability challenges for buyers. As housing forecasts for 2025 begin to emerge, the chart above highlights some of the current predictions for next year.

Ralph’s Take

Most experts anticipate roughly a 5% growth in home sales next year, though this remains below historical…

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